Moody's Keeps Wicomico County's Aa1 Credit Rating

Wicomico County, MD - Wicomico County will keep its Aa1 credit rating from Moody's Ratings. The county shared the news on Tuesday, October 6, 2026.

The rating also covers $17.5 million in general obligation bonds the county plans to sell this year. Moody's kept the county's other main ratings at Aa1 as well.

A credit rating works a lot like a credit score for a local government. It tells lenders and investors how likely the county is to pay back the money it borrows.

Aa1 is the second-highest rating Moody's gives, just one step below Aaa. A higher rating usually means lower interest rates when the county borrows money, so less taxpayer money goes toward interest.

Moody's raised Wicomico County to an Aa1 rating in 2024, while Julie Giordano was County Executive. The county has held that rating since then.

"This is another independent confirmation that Wicomico County is financially strong and moving in the right direction," said County Executive Julie Giordano. "We earned the Moody's upgrade to Aa1 in 2024, and two years later we continue to hold that rating strong while investing in public safety, education, our employees, infrastructure and economic development. We have demonstrated that fiscal responsibility and meaningful investment in our community can go hand in hand."

In its new report, Moody's pointed to the county's financial position, growing tax base and mixed local economy. It also cited ongoing development, strong revenue and high levels of money held in reserve.

According to Moody's, the value of property in the county, measured per resident, has gone up an average of 5.6% each year over the past three years. Property and income tax money coming into the county is also still growing.

Moody's called the county's debt manageable. The agency expects it to stay that way as revenue grows and the county pays off its current debt.

The report also looked at the county's savings and cash on hand. Both were more than 80% of the county's yearly revenue in fiscal year 2025, which Moody's called "exceptionally strong."

The county says it has kept these numbers up while still spending on schools, public safety, roads and infrastructure. Other projects include water and sewer planning and the Salisbury-Wicomico Regional Airport.

"We have worked hard to protect taxpayers while strengthening the County's financial foundation," Giordano said. "Maintaining our Aa1 rating matters because it demonstrates to taxpayers, businesses and financial markets that Wicomico County is managing its finances responsibly and planning for the future. This is not simply about a rating-it is about the long-term financial health of our County."

Moody's also said the county could earn a higher rating in the future. That could happen if resident income and property values keep rising, and if the local economy keeps growing and adding new kinds of businesses.

Giordano said those goals match what the county is already working on.

"Those factors align directly with the work we are doing to attract new businesses, expand our tax base, strengthen our airport and infrastructure, encourage responsible development and create greater economic opportunity throughout Wicomico County," Giordano added.